The newest economic crisis in Europe affecting British proprietors in the west and southwest coast of Turkey, as they sell their properties for low prices or put them on the market. Russians are the initial buyers.

The southern Aegean coast of Turkey, the so-called turkish riviera is home to numerous beautiful bays, coves and inlets, was quite an attraction for British tourists and those who wanted to invest in a beatiful house overlooking the azure waters of Aegean Sea where it meets with Mediterranean. Bodrum, Marmaris, Antalya and Alanya were centers of interest for British tourists.

The looming European financial crisis force the owners of these properties to sell or put them on market for low prices, simply becauese they are not able to see the near-future clearly.

British Proprietors out, Russians in

Marmaris, a favourite destination for British tourist sees a dramatic change of scenery, as the new proprietors are mainly from Russia.

Zülfikar Soyvural, owner of the real estate agency ‘Cartier’,in Icmeler, Marmaris, told NationalTurk, that 90% of Englanders have put their properties on market.

When the interests in Turkey began to decline and Turkish Lira gained value, the system of owning a property in Turkey, became a non-profit investment for them, the British buyers realized thay can buy properties in England for the same price as in Turkey.

Turkey, Bodrum & Marmaris : Destination for Brits and Russians to battle for properties

The gap in numbers of british buyers is filled right now by russian proprietors, told Hasan Ateş, commissioner for real estate agencies in Marmaris. He added, that slightly more than 3000 foreigners own a property in Marmaris, Turkey.

He also said, beginning with 2008 financial global crisis there was a steady decline in property sales to foreign buyers, but 2011 marks the lowest since the start of the crisis.

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